48105, Ann Arbor, MI

Ann Arbor, Michigan is a city located in the U.S. state of Michigan. As of the 2010 census, the population was 113,934. The city is home to the University of Michigan and several other colleges and universities. Ann Arbor was founded in 1817 by John Allen as a village on the east side of Ypsilanti Township near the junction of two creeks. The city grew rapidly after completion of the railroad to Detroit in 1853, becoming an important industrial center and attracting wealthy families from Detroit and elsewhere in Michigan. In 1907, Ann Arbor became a charter city with a mayor-council form of government.

Home equity is defined as "the difference between what an owner owes on their home and its market value." Home prices are typically quoted as annualized rates (e.g., $200,000/year for 5 years). Annualized rates account for inflation so that over time home values will increase at a rate greater than nominal interest payments (assuming no changes in mortgage terms).

According to Zillow's 2018 National Home Value Survey report, Ann Arbor had an estimated median home value of $269,500 ($269K). This ranks #2 out of all cities surveyed with a population over 100k nationally (#1 being San Francisco at $1 million+ median home value).

Ann Arbor's average annualized rate for homes selling since 2013 has been 97%. This ranks #5 out of all cities surveyed with populations over 100k nationally (#1 being Seattle at 133% annualized rate).

The following table provides additional data on Ann Arbor's current market conditions: